Tableau Securities Litigation
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Welcome to the Tableau Securities Litigation Website

This website has been established to provide general information related to the proposed settlement of the case captioned Scheufele, et al. v. Tableau Software, Inc., et al., Civil Action No. 1:17-cv-05753-JGK (the "Litigation"), pending before the United States District Court for the Southern District of New York (the "Court"). The capitalized terms used on this website, and not otherwise defined, shall have the same meanings ascribed to them in the Stipulation of Settlement (the "Stipulation") dated April 16, 2021, which can be found and downloaded by clicking on the Case Documents tab above. Your rights may be affected by the Settlement if you purchased or otherwise acquired Tableau Software, Inc. ("Tableau" or the "Company") Class A common stock during the period between February 5, 2015 and February 4, 2016, inclusive (the “Class Period”).

The law firm of Robbins Geller Rudman & Dowd LLP represents you and other Class Members. You will not be charged for these lawyers. They will be paid from the Settlement Fund to the extent the Court approves their application for fees and expenses. If you want to be represented by your own lawyer, you may hire one at your own expense.

WHAT IS THIS LAWSUIT ABOUT?

As more fully described in the Notice of Proposed Settlement of Class Action (the "Notice"), the Second Amended Complaint for Violations of the Federal Securities Laws (the “Complaint”), filed on February 2, 2018, alleges that Defendants violated §§10(b) and 20(a) of the Securities Exchange Act of 1934. More specifically, Lead Plaintiff alleges that throughout the Class Period, Defendants made materially false and misleading statements and/or failed to disclose adverse information regarding the Company’s business and operations, including that product launches and upgrades by major software competitors were negatively impacting Tableau’s competitive position and profitability. Lead Plaintiff alleges that as a result of Defendants’ false statements and/or omissions, Tableau Class A common stock traded at artificially inflated prices. Lead Plaintiff further alleges that when the true facts regarding the effect of competition on Tableau’s growth and outlook for profitability were revealed, that artificial inflation was removed from the price of Tableau Class A common stock, causing the price to drop and damaging Members of the Class. Defendants deny all of Lead Plaintiff’s claims, allegations, and contentions of fault, liability, wrongdoing and damages. Defendants contend that they did not make any false or misleading statements and that they disclosed all information required to be disclosed by the federal securities laws.

On March 30, 2020, the Settling Parties participated in a confidential mediation with Jeff Bleich, Esq., an experienced mediator. The mediation was preceded by the submission and exchange of mediation statements by the Settling Parties. The Settling Parties engaged in good faith negotiations, but did not reach a settlement, and litigation continued. On March 10, 2021, the Settling Parties participated in a confidential mediation session with former federal judge Layn R. Phillips, Esq., another experienced mediator. The mediation was again preceded by the submission and exchange of mediation statements by the Settling Parties. The Settling Parties engaged in arm’s-length negotiations during the mediation session and reached an agreement-in-principle to resolve the Litigation. On March 18, 2021, the Settling Parties executed a term sheet memorializing their agreement. The agreement included, among other things, the Settling Parties’ agreement to settle the Litigation in return for a cash payment of $95,000,000.00 for the benefit of the Class, subject to the negotiation of the terms of a Stipulation of Settlement and approval by the Court. The Stipulation (together with the Exhibits thereto) reflects the final and binding agreement, and a compromise of all matters that are in dispute, between the Settling Parties.

WHAT DOES THE SETTLEMENT PROVIDE?

The Settlement, if approved, will result in the creation of a cash settlement fund of $95,000,000.00 (the “Settlement Amount”). The Settlement Amount and any interest it earns constitute the “Settlement Fund.” The Settlement Fund, after deduction of Court-approved attorneys’ fees and expenses, Notice and Administration Expenses, Taxes, and any other fees or expenses approved by the Court, is the “Net Settlement Fund.” If the Settlement is approved by the Court, the Net Settlement Fund will be distributed to eligible Authorized Claimants—i.e., Members of the Class who timely submit valid Proofs of Claim and Release—in accordance with the proposed Plan of Allocation.

ADDITIONAL INFORMATION

Although the information in this website is intended to assist you, it does not replace the information contained in the Notice and Stipulation, both of which can be found and downloaded by clicking on the Case Documents tab above. We recommend that you read the Notice and other relevant case documents carefully.

YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT

SUBMIT A PROOF OF CLAIM AND RELEASE The only way to be eligible to receive a payment from the Settlement. Proofs of Claim and Release must be postmarked (if mailed) or received (if submitted online) on or before August 24, 2021.
OBJECT TO THE SETTLEMENT BY SUBMITTING A WRITTEN OBJECTION Write to the Court about why you do not like the Settlement, the Plan of Allocation,and/or the request for attorneys’ fees and expenses. Objections must be postmarked on or before August 24, 2021.
GO TO THE HEARING ON SEPTEMBER 14, 2021, AND FILE A NOTICE OF INTENTION TO APPEAR Ask to speak in Court about the fairness of the Settlement. Requests to speak must be postmarked on or before August 24, 2021. If you submit a written objection, you may (but you do not have to) attend the hearing.
DO NOTHING Receive no payment. You will, however, still be a Class Member, which means that you give up your right to ever be part of any other lawsuit against the Defendants or any other Released Defendant Party about the legal claims being resolved by this Settlement and you will be bound by any judgments or orders entered by the Court in the Litigation.

IMPORTANT DATES AND DEADLINES

Submit Proof of Claim and Release: August 24, 2021
File Objection: August 24, 2021
File Notice of Intention to Appear: August 24, 2021
Court Hearing on Fairness of Settlement: September 14, 2021, at 2:30 p.m.